Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Kumba To Continue Defending South Africa Sishen Iron Ore Right

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/17/2012 | 12:15pm CET

Kumba Iron Ore Ltd. (KIO.JO), South Africa's largest iron ore producer, said Friday it will continue to defend its ownership rights to the Sishen mine as the country's mineral department appeals a high court decision from last year.

Kumba, a subsidiary of Anglo American PLC (>> Anglo American plc), launched legal action in August, accusing the government of wrongly awarding a lucrative stake in Sishen to politically connected Imperial Crown Trading, or ICT.

The 21.4% stake was previously owned by ArcelorMittal South Africa (ACL.JO), which had lost the right after it failed to convert it under the new mineral laws. Kumba already owned the remaining stake.

In December 2011, a Pretoria high court ruled that Kumba was the owner of 100% of Sishen and therefore the Department of Mineral Resources, or DMR, was wrong in awarding the stake to ICT and therefore that deal was void.

Early this month, both the DMR and ICT submitted applications to appeal against the High Court judgment, Kumba said.

"[Sishen Iron Ore company] will continue to take the necessary steps to protect its shareholders' interests in this regard," Anglo American said in its results Friday.

In the meantime, an interim pricing agreement that Kumba said was invalid after ArcelorMittal lost its Sishen stake has been extended to July 31, 2012, Kumba said. Arbitration between the two over the pricing agreement has also been postponed until the stake legal proceedings are concluded.

-By Devon Maylie, Dow Jones Newswires; +27117837848; devon.maylie@dowjones.com

Stocks mentioned in the article : ARCELORMITTAL, Kumba Iron Ore Ltd, Anglo American plc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ANGLO AMERICAN PLC
01/19 ANGLO AMERICAN : *goldman raises anglo american price target to 1,600 (1,400) pe..
01/19 ANGLO AMERICAN : *goldman raises anglo american price target to 1600 pence - 'bu..
01/18 Energy And Automotive Giants Draw Attention To Growing Hydrogen Market
01/17 Oil majors, car makers to push hydrogen technology to help cut emissions
01/17 FTSE falls most since June 2016 after PM May's Brexit speech
01/17 European shares steady as banks turns positive after May speech
01/17 ANGLO AMERICAN : *hsbc raises anglo american to 'buy' ('hold') - target 1,470 (1..
01/17DJFortescue Metals Names Elizabeth Gaines as CFO
01/12 Fiat Chrysler leads European shares lower on emissions accusations
01/09 ANGLO AMERICAN : *barclays raises anglo american target to 1240 (975) pence - 'e..
More news
Sector news : Integrated Mining
01/19DJBHP, Vale Lay Out Plan to Reach Settlement on Fatal Samarco Dam Failure -- Up..
01/19DJBHP Billiton, Vale, JV Reach Preliminary Agreement With Brazil Prosecutors Re..
01/17 FTSE falls most since June 2016 after PM May's Brexit speech
01/17 European shares steady as banks turns positive after May speech
01/17 Rio Tinto payout hopes brighten on solid outlook for 2017
More sector news : Integrated Mining
News from SeekingAlpha
01/10 PLATINUM AND PALLADIUM : The New Year Should Be Kind To These Metals
01/03 ANGLO AMERICAN : Divest Now With A View To Repurchase In The Latter Half Of 2017
2016 DELEVERAGING TIGHTENS METALS SUPPLY : Part 1
2016 Top 5 Junior Or Mid Tier Copper Miners To Consider
2016 BLOOMBERG : Rio Tinto wants to buy diamonds, but that's easier said than done
Advertisement
Financials ($)
Sales 2016 21 557 M
EBIT 2016 3 276 M
Net income 2016 533 M
Debt 2016 8 978 M
Yield 2016 -
P/E ratio 2016 21,41
P/E ratio 2017 7,96
EV / Sales 2016 1,45x
EV / Sales 2017 1,20x
Capitalization 22 315 M
More Financials
Chart ANGLO AMERICAN PLC
Duration : Period :
Anglo American plc Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Full-screen chart
Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 15,6 $
Spread / Average Target -2,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
John Parker Non-Executive Chairman
René Médori Executive Director & Finance Director
Anthony Martin O'Neill Director & Technical Director
Philip Roy Hampton Senior Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN PLC11.16%22 315
BHP BILLITON LIMITED5.15%101 482
BHP BILLITON PLC10.22%101 482
RIO TINTO LIMITED4.06%78 518
RIO TINTO PLC10.78%78 518
GRUPO MEXICO S.A. DE C..7.07%21 618
More Results